EUR/USD Current price: 1.2928
The EUR/USD finally saw some buying interest this Thursday, having been pressured since early week. Market sentiment improvement early Europe however, did not extended over US trading hours: stocks closed the day erasing 50% of their intraday gains, closing in positive territory anyway. Attention remains focused in the possible Spanish bailout, which continue being delayed despite S&P downgrade yesterday triggered speculation on a sooner request. In the meantime, tension in the Hellenic country also rises as latest market talks are about companies flying along with their banking accounts to Switzerland. The EUR/USD reached 1.2950 before retracing some ground holding well above the 1.2910 immediate support level. Technical outlook remains bullish according to intraday time frames, although indicators had lost early momentum, reflecting recent lack of volume. In bigger time frames, not much has changed: for the past 3 weeks, the pair has been trading with no clear direction in between 1.28 and 1.30. Sentiment will be the name of the game this Friday, with market inclined to take profits out of the table ahead of the weekend.
Support levels: 1.2910 1.2875 1.2840
Resistance levels: 1.2945 1.2970 1.3000
GBP/USD Current price: 1.6045
Despite a recovery, Pound saw no follow trough and stalled against the greenback around the 1.06050 area, right below the 38.2% retracement of its latest daily slide at 1.6065 immediate short term resistance. Technical readings in the hourly chart despite positive, lack strength at the time being, while in the 4 hours chart intraday retracements found buyers around 1.6030, 23.6% retracement of the same rally. While the pair may have find a medium term bottom at 1.5970 weekly high, a break above 1.6065 would help confirm more advances in the upcoming sessions.
Support levels: 1.6000 1.5970 1.5940
Resistance levels: 1.6065 1.6090 1.6120
USD/JPY Current price: 78.38
The USD/JPY saw some action after falling to 77.93, bouncing almost straight to 78.58 as significantly recovering above 100 and 200 SMA’s in the hourly chart, that now offer support in the 78.30 price zone. Short term bullish as long as above the level and according to the hourly chart, the pair still needs to beat sellers aligned around 78.80 to see a more interesting come back. Bigger time frames are still showing neutral readings, while 100 DMA stands around 78.79, converging with mentioned static resistance level.
Support levels: 78.10 77.90 77.65
Resistance levels: 78.80 79.10 79.30
AUD/USD: Current price: 1.0261
The AUD/USD surged to a weekly high of 1.0292 while retracements from the level have been soon far contained at current 1.0260 price zone. The hourly chart shows 20 SMA above current price and holding a slightly bullish slope, although indicators turned neutral and stand around their midlines. In the 4 hours chart there is also a limited bullish tone with indicators in positive territory yet loosing early upward momentum: further recoveries may come as long as above 1.0220 area, with 1.0335 as next strong resistance level to break.
Support levels: 1.0260 1.0220 1.0190
Resistance levels: 1.0300 1.0335 1.0380
Today's new term is Discount Rate.